China to reduce access restrictions on foreign capital

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Photo: Reuters/Kim Hong-Ji

The Ministry of Commerce is working on specific measures which will vigorously improve the scope, level and structure of the opening up of China, aiming to form a new pattern of a full opening, said Gao Feng, spokesman for the ministry, China Securities Journal reported.

In terms of utilizing foreign capital, the Ministry of Commerce will systematically reduce market access restrictions, deepen the opening up of the manufacturing industry, speed up the opening up of the service sector, as well as proactively and steadily promote the opening up of the financial industry.

Meanwhile, the ministry will also move to increase the scale and quality of foreign investment in the central and western China.

As for outbound investment, Gao revealed that over the next stage, the ministry will learn from other countries’ practices and abide by international rule, so as to work with relevant departments to formulate regulations on overseas investment.

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